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, everyone. i'm larry kudlow. this is "the kudlow report." tax hikes, tax hikes, and tax hikes. one way or another, that's about all i hear on this fiscal cliff business, and you know what? what about spending cuts which is the true source of the deficit problem along with anemic economic growth. and here's one. we just got confirmation that the latest fiscal numbers from the treasury department show the federal government ran up more red ink in october than it did the year before, and guess what? spending went up double digits from the year before. what a surprise. but the white house got one thing right today. it released a study showing that a massive year-end tax hike would kill consumer spending by $200 billion, right. so let's not raise taxes. and in addition to all of this, the joint chiefs of staff is apparently drawing up plans to keep 10,000 u.s. troops in afghanistan past the 2014 deadline. this break a president obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holiday recess
, president obama wants more in the $1.5 trillion in tax hikes, but he has no plan -- or announced cuts in spending, why those tax hikes don't add up to anything meaningful and we'll talk with the ceo of cke restaurants, andy puzder and says, tax rates will stifle economic growth and our favorite doctors are here, to psychoanalyze the scandal that brought down the head of the cia. we are delighted to be joined, now, by the admiral james lyons, retired commander of the u.s. pacific fleet. it is always good to have you with us. thanks for being here. >> nice to be back with you, lou. >> lou: let's turn, to first, the talking pois. which, it seems that no one after general petraeus made it clear there had been changes in those talking points, the testimony before congress s been surveyed, and congressman mike rogers, the chair of the house intelligence committee, said, it has to be the white house, because everybody else has testified that they didn't. do you agree? >> i agree. and, in that deputy's committee i'm hurry the white house representative and the national securityfrom the nation
's the simultaneous convergence of tax increases and spending cuts designed to pressure lawmakers accepting other negotiated deficit reduction changes. it includes expiration of the bush era tax cuts that would effect everyone. expiration of the tax cut around for years can be called a tax increase. the nonpartisan budget office would bring in $1 trillion in ten years. on tap, 1.2 trillion in spending cuts for ten years. $100 billion in first year. half to defense programs. half to nondefense. cbo says going off the cliff would lead to a recession next year. we have fox team coverage tonight. ed henry is trying to read tea leaves on a day of mixed signals from all sides but we begin with mike emanuel on the possibility that g.o.p. lawmakers may put their oath of office above a promise to antitax increase organizer. good evening. >> good evening. the republican sources say they are offering a balanced approach of significant spending cuts and some revenue without boosting tax rates. >> we have been responsible as we remain firm on this point. no tax increases now for promised spending cuts that wo
will also be here fred also, president obama has no plan to announce tax cuts and spending cuts. why they don't add up to anything meaningful. lou: the testimony before congress has been surveyed. congressman mike rogers. everyone else has testified that they didn't. do you agree? >> i do agree. and the deputies committee, i'm sure the white house representatives of national security from the national security agency council had their orders. lou: general david petraeus says for his part, one of the confusing things -- confusion between the testimony he gave to congress three days after september 11 and what he said over the past few days in congress, it represents what happens when you try to avoid tipping off terrorists. do you buy that? >> according to congressman king, it indicates that betray d petraeus deadlock. lou: is appropriate for a military man to take upon himself or herself for the good of the country and misrepresent reality united states congress. >> certainly based on what congressman king has reported in the open press something of the like. lou: specifically, it me
back to work but the clock is ticking. unless lawmakers make a deal, automatic spending cuts and tax increases are just a matter of only a few weeks away for everyone. i'll ask a top member of the republican leadership if there's any room for serious compromise. >>> and if you own a home, deductions that save you money every year could be changing or simply going away. we're taking a closer look. >>> and ballpoint pens that hide poison needles and poison bullets. they sound like props in a cold war era spy movie. but they're part of a real assassination plot. we have details. i'm wolf blitzer. you're in "the situation room." >>> we're just 36 days away from the painful across-the-board spending cuts and tax increases people here in washington are calling the fiscal cliff. today, we have new proof that people across the country not only are aware of what's going on, they're very, very worried. our new poll shows 68% say the country will face either a crisis or major problems if the cuts in taxes aren't avoided. and a whopping 77% say their personal financial situation will be affected
donations like those here in america are like those tax deductible and with the u.s. approaching a fiscal cliff, there are rumblings of big changes and some could impact charity. the and here is the national correspondent tim angle. >> thanksgiving, a time to relish one's blessings and help the less fortunate. >> in the scramble to avoid the fiscal cliff, both the president's plan to raise taxes on the wealthy and the republican willingness for revenues could end up hurting charities and rely on the kindness of people with money. >> high income people tend to give very generous gifts. they may give a million dollar contribution to a capital campaign of a local hospital or a local art museum and a small number of donors at the high end that account for really big chunk of the charitable giving in this country and those are the folks that we'd be most impacted by this tax policy change. >> in fact, united way gives 15% of total donations, 500 million dollars a year, from those who give $10,000 or more. so, charities worry that any kind of tax increase on the wealthy could cut into their don
to give in on tax changes in order to get some sort of a deal done. kelly wright joins us with more on what it means for the negotiation. we could be looking at possible tax hikes, isn't that right? >>> oo the government is on automatic pilot. that is five weeks away. for congress there is much work to be done and more compromise to be made in order to avoid the fiscal cliff. it will require give and take negotiations particularly on raising taxes but republican law americas who pledged to not vote for anything with a tax increase now appear ready to relinquish that pledge in order to avoid the looming fiscal crisis. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the grief and republicans should put revenue on the table. >> so everything is on the table and campaign raising taxes on the wealthy is relying on treasury secretary tim geithner. his team will works on issues like medicare even social security. they hoping to avoid a repeat over raising the debt ceiling in 2011. they hope the geithner team can reach an agreement with all
-profile republicans that says he will break the longstanding pledge regarding taxes and says he will do it for the country, but only if democrats are willing to make reforms on entitledment programs, medicare and medicaid and social security. that is big if. good morning, hope your turkey was great. martha: good morning, everybody, i'm martha maccallum. you've got this. congressman peter king and now senator bob corker say they will ignore the decades old pledge that was signed by 241 house members and senators. he says he believes it is a huge game-changer. >> when you're $16 trillion in debt the only pledge we should make to each other is to avoid becoming greece. republicans should put revenue on the table. we're this far in debt. we don't generate enough revenue. capping deductions will help generate revenue. raising tack rates will hurt job creation. bill: this is the heart of the matter. stuart varney, host of "varney & company". morning to you, sir? >> this is a real shift. one of the two sides had some movement in their position on the tax side of the debate. that side is the re
on the negotiating table. the white house warned that the uncertainty of potential tax hikes for middle-class taxpayers could hurt consumer confidence during the holiday shopping session. that could have a big effect on the economy. the washington post writes that the white house is ratcheting up pressure to avoid the fiscal cliff. on c-span tonight, we will bring you some of the house and senate debate from august of 2011, when congress passed the budget control act that triggered cuts to take effect on january 1. we will also hear from president obama, who signed the deficit reduction measure into law, part of the deal to raise the debt ceiling. first, senate majority leader harry reid and republican majority leader mitch mcconnell will talk on the senate floor about the january fiscal deadline. >> since our country voted to return president obama to the white house, i have spoken often about compromise. i remain optimistic that, when it comes to our economy, when it comes to protecting middle-class families from a whopping tax hike, republicans and democrats will be able to find comm
. >> but will they actually cut taxes on the rich? not raise them, cut them. they wouldn't do that, will they? you are about to find out. >> republican goes after susan rice. >> absolutely it was wrong. >> here's what i can tell you. the american people got bad information on 15 september. >> some surprising opinions on that. stay right here for that, as well. then a movie about how we got bin laden but did they get classified information? that's a new controversy. >> you think you know the story but hold on to your seat. >> it's a huge controversy. an investigation was begun about you receiving classified material. >> who's guilty, who's innocent? we decide here on the "young turks." also, the man who created pulp fiction, kill bill, inglorious bass starteds on the set today. and republican on republican crime, elbow of the day. go time. [ ♪ theme ♪ ] >> cenk: david pluck is one of the to which advisers for president obama. he's talking about what they're going to do in regards to the grand bargain and he says some things that are very, very interesting, revealing exactly what we had feared was going o
sales tax. now a move to close the loopholes that are costing states millions. plus at least when people shop online this doesn't happen. [oh] >> shepard: tonight, the brawl at the mall. a jury cleared casey anthony of murdering her little girl. >> we, the jury, find the defendant not guilty. >> shepard: now some potentially explosive evidence about a computer search somebody did on the day little caylee disappeared. and this was no ordinary parade can a gety. >> snn colon and then a number. >> shepard: shredded police documents apparently reigning down on the thanksgiving day crowd. >> i didn't know what to make of all of this information. >> tonight, investigation and police respond. but first from fox this monday night, some republicans are now saying they are willing to break their no tax hikes pledge to keep us all from going right over the fiscal cliff at the end of the year. it's pretty new and that's when pretty much everybody's taxes will go up if congress and the president can't cut a deal. g.o.p. leaders insist they still do not want to raise tax rates. instead, they say they
)s and other places. so supply-side tax reduction certainly counts. .. about the last time around. >> your tax pledges between the representative. if there is a net increase would you say that is in violation of the pledge and are you worried about the words that you are hearing from speaker boehner? is he talking about a net tax increase or are we hearing that rahm? >> he's in favor of revenues that come from growth and needs to see serious spending restraint. i am in favor of revenues to come from economic growth. one of the numbers that doesn't get tossed around is cbo. the cbo says if you grew at 4% a year -- congressional budget office -- they do static modeling. they do a whole bunch of things that i think understate the case for how important growth is or how you get growth, but if you grow 4% a year, reagan numbers instead of 2% a year, france, or obama's high point -- you do that for a decade, to present additional growth, 4% a year, not to present, the federal government lets $5 trillion more than it would have because more people are working. at this point, from the bottom of the re
and tax hikes. well, now the white house releasing a new report building its case for a middle class tax cut. this comes as a national poll finds that 2/3 of americans surveyed believe politicians will act like spoiled children during fiscal cliff negotiations. while only 28% believe lawmakers can be counted on to behave like responsible adults. chief white house correspondent ed henry has the joy of living and reporting amongst the children. i'm not sure what that makes you but you are a chief white house correspondent so what is the latest? >> reporter: there is a still a little kid in all of us, jenna. the bottom line the negotiations are obviously reefing a critical stage. white house is trading to take advantage of cyber monday, retail holiday today to put out the report you mentioned to suggest retailers will take a particular hit if they face these automatic tax increases and spending cuts that will be kicking in at the end of the year if there is no action by the white house and lawmakers on capitol hill working together. bottom line here, republicans like jeff sessions, the budg
back on the grover norquist tax pledge. is the gop preparing to give in to the president? is and thousands of people packing into stores today. watch your wallet. we'll tell you how the shopping season is really adding up. let's go "outfront." >>> good evening. i'm tom foreman. egypt erupts. thousands of angry egyptians have been protesting in opposition to a controversial power grabby egypt's president. at least 80 people have been injured and one killed in clashes with police who fired tear gas into the crowds. the unrest began after he issued a series of orders which allow him to run the country unchecked until a new constitution is written. morsi says his actions are meant to speed up reform and achieve political and social stability. >> translator: i have said beforened i repeat again, that i would never use a legislation against individuals, parties, men, women or muslims or christians for personal gains and to settle scores. >> now, this is all very problematic for the white house. just two days ago, president obama and secretary of state hillary clinton were prais
, to a courthouse in ap mat tax and 1600 pennsylvania avenue, h.w. brands on the life of ulysses grant, thursday night at 10:15 eastern, part of booktv's four-day holiday weekend starting this thursday on c-span2. >> the name of this place still resonates with a shuddering in the hearts of the american people. more than any other name connected to the civil war except lincolns, gettysburg reverberates. americans retain the knowledge that what happened here was the crux of our terrible national trial, and even americans who aren't sure precisely what transpired on these fields know all the glory and tragedy we associate with the civil war resides most indelibly here. >> thursday night at 8 eastern lincoln director steven spielberg on the battle of getties berg and abraham lincoln's legacy, part of a four-day holiday weekend beginning thursday on c-span3's american history tv. >>> up next, a group of obama biographers discuss the president and his experiences from his first term in office. participants include authors ron suskind, david maraniss and jonathan alter. this discussion was part of the
of positive talk following the election. even bill kristol talking about let's feel free to raise taxes if it's part of a bigger deal. a lot of elections don't have consequences, midterm elections. this was supposed to be a status quo election. but something happened here. i think the fever is starting to break. >> absolutely. you're going to see it, i think, on immigration reform, and i think you're going to see it on spending and taxation. and you don't have to effect or change basic tax rates. as you know, there's all sorts of things you can do on so-called tax expenditure dealing with home mortgage deductions, dealing with state and local taxes. also there's things obviously on the spending side, entitlements and domestic spending, this isn't that hard. this is, if you will, a mini-package. this isn't necessarily on the scale of simpson-bowles. it doesn't need to be. this ought to be doable. >> john heilemann, obviously both sides have to give. everyone's been saying that. there needs to be room for compromise, figure out how to get there. how does a deal look? is there a possibility of a
. bill: democrats upping the ante, looking to raise taxes, protect entitlements and raise the debt ceiling all at the same time. stuart varney, hello, there, sir. you think there has been a shift in those negotiations. >> i don't mean a shift in position. i mean a shift in focus, what they are focusing in on on the last couple days it's been taxes now it seems to be we are focusing in on entitlements and spending cuts. the democrats and the republicans are presenting a united front saying no cuts to entitlement. no entitlement reform. the unions have an ad campaign saying don't touch entitlements. the president campaigner in chief saying the same thing. he put no entitlement reform front. a unified front on entitlements. bill: we did two hours of television yesterday. i saw a story that was as far apart from coming to agreement as is possible. do you see any give between these two sides? >> i saw a statement from senator dick durbin generally considered on the left of his party, he's saying, nobody should be so naive as to believe that just taxing the rich will solve our problems.
for a package that includes tax rate increases for the wealthy. not to be outdone speaker boehner announced that house republicans would be making similar appearances across the country, going to small businesses to speak about the "threat to jobs posed by congressional democrats" small business tax hike. while members of congress plan to take their case to the american people, the afl-cio is planning to take the american people to members of congress sending 33 local union leaders to capitol hill to push members of congress to let the bush tax cuts expire and leave social security untouched. one positive to emerge from negotiations so far has been that for the first time in recent memory, republicans have expressed an openness to increased revenues which means the choke hold grover norquist and his tax pledge held on republicans may be loosening. frank bruni thinks republicans devolved into dummies and nor west was their ventriloquist. not everyone saw norquist as the cause of the problem. defending him truth is that
, is on middle class taxes. and as i've said before, we've got two choices. if congress does nothing, every family in america ll see their tacks automatically go up at the beginning of next year. starting january 1st, every family in america will see their taxes go up. a typical middle class family of four would see its income taxes go up by $2200. $2200 out of people's pockets. that means less money for buying grocery, less money for filling prescriptions, less money for buying diapers. it means a tougher choice between paying the rent and paying tuition and middle class families just can't afford that right now. by the way, businesses can't afford it either. yesterday i sat down with some small business owners who stressed this point. economists predict that if taxes go up on the middle class next year, consumers will spend nearly $200 billion lesson things like cars and clothes and furniture and that obviously means fewer customers, that cuts into business profits, that makes businesses less likely to invest and higher which means fewer jobs and that can drag our entire economy down. now
. federal reserve chairman ben bernanke is urging washington to avoid the tax increases and budget cuts that will begin to take effect next year. while speaking at the economic club of new york, he called for an increase in the federal debt limit saying a dault could result in an economic crisis. >> thank you very much. good afternoon. it is nice of you to join me for lunch at this intimate gathering. [laughter] i know many of you and your friends and neighbors are recovering from the events of hurricane sandy -- i want to let you know our thoughts are with everyone who has suffered during the storm and its aftermath. it has been a very challenging time for new york city. i think you have shown quite a bit of fortitude in coming back and getting back to business. my remarks today are going to focus on the reasons for the disappointingly slow pace of economic recovery in the united states, and the policy actions that have been taken by the federal open market committee to support the economy. in addition, i will discuss important economic challenges our country faces as we close out 2012
to get the majority of a majority on tax issues. he's not going to get a majority of majority on debt raising. >> much harder on the debt ceiling than taxes. >> that's what i'm saying. i refuse to vote to raise a debt ceiling when they were trying to raise it to $5 trillion. it's something you don't do unless you get a lot of cuts on the other side. >> and it's not a game. because if you don't raise it, we saw what happened last time, you can get your debt downgraded and has real economic consequenc consequences. and that's why when people think about the fiscal cliff, we all assume that sane minds will prevail and they'll come up with some deal. there's no guarantee that sane minds will prevail. and recent history would suggest that sanity almost never prevails in washington. so you can assume it's going to be more difficult than we think. you can assume that the bush tax cuts might all go away for a short period of time. and you cannot assume they just raise the debt limit. you cannot make that assumption. >> are the president's men and women -- are they under -- are they making the
to talk about averting the tax hikes and budget cuts from the so-called fiscal cliff. the president met with small business owners yesterday to talk about the effect on their companies from taxes and other changes. and right now congress is stalled over finding a solution as democrats demand higher taxes for high wage earners while republicans want cuts to entitlement programs. >>> elsewhere on the hill, u.n. ambassador susan rice spent her day behind closed doors explaining statements she made back in september about those deadly attacks on the u.s. consulate in libya. her defense failed to convince her republican critics. nbc's tracie potts is on capitol hill with more on this. tracie, good morning to you. >> lynn, good morning. rice admitted that when she said the ambassador and three others who were killed were the result of spontaneous attacks, the information was partially wrong. as she has done before, in a statement after her meeting, she blamed it on bad intelligence information, talking points where references to al queda had been taken out according to sources and attacked ch
on a platform of increasing taxes on wealthier americans, if you look at the polls a majority of americans actually agree with him on that issue. as you know, president obama invited congressional leaders to the white house last week. they struck a rare tone of bipartisanship after that meeting. then as you point out, seems like both sides sort of went back to their respective corners and democrats really digging in their heels on entitlements, republicans digging in their heels on the issue of taxes. we're told that aids on the hill are trying to work through a couple of compromise scenarios, especially on the issue of taxes, that would essentially allow taxes to go up on wealthier americans without increasing the rates. there are a couple of ways that you can do this. one would be to roll back tax breaks that will wealthier americans get. another idea is to possibly tax higher income earners on the lump sum of their salaries. so they're sort of batting some of those ideas back and forth. one component though, alex, that is giving folks around here some optimism, speaker boehner and major
to leave the agency. with the content congressional negotiations are the sequester and tax cuts to expire at the end of the year, tonight and prime time, focusing on the beginnings of the debt of the debate on the national debt. c-span will go back to august of last year to review some of the debate and is congress is from congress and the white house to run in the passage of the budget control act. the law created the automatic spending cuts to take effect in january along with some expiring tax revisions as part of the so- called fiscal cliff. it airs tonight it it o'clock eastern-- a o'clock here on c-span. >> in january, our first week we were sworn into office, the president ask for an increase in the debt ceiling. i made clear at that time there would be no increase in the debt ceiling without significant cuts in spending and changes to the way we spend the american people's money. shortly after that, i was in new york and gave a speech and outlined i thought the spending cuts should exceed the amount of debt limit increase and there should be no taxes as part of this agreement. whe
? >> we want to engage in comprehensive tax reform. we also need to engage in entitlement reform. you know? medicare, medicaid carefully, these are chief drivers of our deficit. we made a lot of progress with obama care and there's other spending we have to cut. >> hold on a second. i think we all know what the chief drivers of our deficit are and have been. our projected deficit over the next seven years is driven mostly by the wars in iraq and afghanistan and the bush tax cuts. entitlement programs don't even compete with these costs. plouffe went on to pin the problem largely on republicans who are not flexible on higher tax rates, but he also said this. >> and so where i think the big bottleneck right now is republicans in congress on revenue and how much and where does it come from. democrats are also going to have to step up here and do some tough things. and you know, the notion that somehow that these deficits and our debt are not a threat to our national security and our economic future is something i could not disagree with more strongly, as does the president. there are some, ma
will be able to reach a deal before the tax hikes and spending cuts kick in just 33 days. it is going to look bad for congress if they cannot get this done and some republicans are saying it's time to give in. politico's also reporting oklahoma representative tom cole told his g.o.p. colleagues yesterday to move forward with the president's he plan to extend the tax breaks for everyone except the top 2%. cole said that he does not agree with raising taxes for anyone but that it is time to take care of the majority of the american people first and fight for the wealthy later. that bill made it through the senate back in july but it still has not made it through the house. we're right back. you're about to watch an viewer created ad message for little caesars who proudly salutes united states veterans everywhere. >> clarksville is a small town on the tennesse/kentucky boader and it is a really great place to raise a family. my name is lloyd allard i was a chief officer in the special forces, i was in the army for 23 years. i have made 1400 parachute
're having today. >> maybe that will be an opportunity to increase the federal gasoline tax even if we go -- don't go to a full carbon tax, it will produce a lot of revenue with 50 cents per gallon federal tax. >> the only problem from a climate perspective, it is a small share of the problem. the problem is really in the energy sector a without a carbon tax you are not directly getting back.t >> >> i think you can design one such way that does not cause too much harm for american industries that compete with folks abroad. consumption tax is difficult if you try to do a value added tax. there are things you can do to tweak the income-tax to make it look like a value added tax. >> at the end of the day, what you think the tax code will look like when these conversations between the president and speaker john boehner are done? what will look like when they are done? >> i think we will have slightly higher marginal tax rates on some -- at least one high income tax bracket and i think there will be a variety of tax and exclusions and deductions that are scaled back modestly and that's about i
spending cuts and expiring tax breaks just into fox, the white house spokesman, jake carney, reports president obama spoke with the house speaker boehner and the senate majority leader harry reid over the weekend. still, concerns of the crisis and the european debt crisis sent stocks down but not precipitously but down. we are seeing signs of progress in washington, dc, with rare bipartisan consensus on raising taxes on the wealthy but they remain at odds over the specifics. in other words, exactly highway do you do it. and mike emanuel is live on capitol hill. the white house is expressing putting pressure on congress. >>reporter: a report on the impact if the bush tax cuts are not extended. the study says the typical middle class family will see taxes go up by $2,200 next year affecting businesses and retailers. the argument is the families will spend less and it will hurt the economy. >> you can see it across housing, and services, and things like paying for cell phone, groceries, durable goods, auto purchases. evidence like this is a reason why retailers are so concerned that con
the fiscal cliff. if there's no action by the new year some existing tax cuts will be filed. but finding consensus between republicans and democrats will not be easy. >> as president eisenhower said there will have to be compromises. and seeking compromises is the only way forward. >> some gop lawmakers now say they'll have to put the pledge aside for the good of the country. >>> on wall street the markets remained fixed. the dow dropped 42 points, the nasdaq gained nine. >> tonight at 10:30, the jitters the fiscal cliff is causing on wall street and how some investors are deciding to take action now and not wait. >>> the bay area's storm door is about to swing wide open. the first in the series of wet weather is due to arrive tomorrow morning. we start in the weather center with chief meteorologist bill martin. bill. >> julie, a series of storms set to affect the bay area not that atypical for this time of year. but it is going to be a wet weather pattern that is going to take us into early next week. look at the activity in the pacific, it's massive. look at what happens when we -- we
existing tax cuts will be filed. but finding consensus between republicans and democrats will not be easy. >> as president eisenhower said there will have to be compromises. and seeking compromises is the only way forward. >> some gop lawmakers now say they'll have to put the pledge aside for the good of the country. >>> on wall street the markets remained fixed. the dow dropped 42 points, the nasdaq gained nine. >> tonight at 10:30, the jitters the fiscal cliff is causing on wall street and how some investors are deciding to take action now and not wait. >>> the bay area's storm door is about to swing wide open. the first in the series of wet weather is due to arrive tomorrow morning. we start in the weather center with chief meteorologist bill martin. bill. >> julie, a series of storms set to affect the bay area not that atypical for this time of year. but it is going to be a wet weather pattern that is going to take us into early next week. look at the activity in the pacific, it's massive. look at what happens when we -- we're going to hawaii. this is streaming from the very low lati
leadership. they expressed optimism about reaching a deal to avoid a 500 and dollars in tax increases and spending cuts. 500 bill in dollars for tax increases. >> we have a very productive meeting. >> the cornerstone of being able to work something out. >> staffers have been working behind the scenes to find common ground and how to begin more tax revenue and reduced spending on programs like medicare. it is not yet clear one of lawmakers will meet next. even if progress is made this week a final deal could still be make well. >> we rarely see the hill and the white house making decisions, early. they tend to do better when they have a deadline. so, i think that i would be pleasantly surprised if a deal emerged earlier. but, we will see. >> unless compromised is reached, steep tax hikes could be seen. >> this small earthquakes >> the u.s. t s a said the magnitude 3.5 tremor hit at about 7:45 near soledad.. 60 mi. southeast. no reports of damages. >> the day after thanksgiving >> they see a lot of potato peels, putting things down the disposal of the probably should not go down. we ar
to tackle the tough fiscal cliff and make decisions about taxes, spending, and budget cuts. states are looking at how they can be affected. a question for you this morning, whether states should have a say in budget talks. here are the numbers to call. if you can also find us online. here is the headline in "the new york times." the pew center has a new study out called "the impact on the fiscal cliff on states." here is what it says. we would do more into these and how they will specifically affect states on an individual basis. there is a question on whether the fiscal cliff would hurt. it says -- our question for you this morning is whether the states should have a stake of in negotiations. looking more in the story "the new york times." it says -- some of the benefits states could receive, nobody is retained that president obama and republicans in congress will fail to reach an accord because they feel -- they fear that the resulting combination of spending cuts and tax increases could prompt another recession, which their states can ill afford. let's go to houston, texas and h
are before us. tax increases are not. but underlying all of that, foundational to all of that, is putting america back to work. getting americans back into their jobs. if we do that we will clearly increase employment and when you increase employment you always increase tax revenue to the federal government, to state governments and local governments. so our principle task as i see it and i think i'm joined by many of my colleagues, both democratic and republican, is to get the american economy going. to put it back in gear. and there are many reasons beyond just employment and the opportunities that family have -- families have to make it. one of the critical elements in all of this is to protect americans. we recently saw superstorm san joaquin smash into -- sandy smash into new jersey and new york with devastating results. loss of life, incredible loss of property, both public and private, and a very, very big cleanup bill. joining me in a little while will be some of our representatives from the state of new york. and they'll talk about that in detail. but before sandy ever hit the co
cliff, i was wondering about maybe raising taxes. q. what are they planning on cutting? i live paycheck to paycheck. i was curious as to what people are planning on cutting instead of just raising taxes? host: you said you are living paycheck to paycheck. are you doing anything to prepare in case the u.s. goes off the fiscal cliff? caller: just try to work to make a living. this economy is not helping much. host: thank you. today's wall street journal talks a little bit about the impact of going off the fiscal cliff in this chart -- we will take you through few more those scenarios throughout the show. but we want to go to jeff from texas, the independent line. your confidence in the u.s. economy as we are approaching this fiscal cliff. caller: yes, thank you. i don't see much confidence. i don't see the fiscal cliff as the big problem. the problem is the federal reserve monetary policy. the idea that the weekend keep printing money and borrowing money and expect the government to carry everything. we are buying up all these bonds and keeping interest rates so low. politicians from both
. repeat, put everything on the tail, not just taxes and revenue, but spending cuts and entitlement reform. the only perfect law i know was carried down a mountain by senator moses. lou: what should be positive words for republicans tempered by the fact that senator durbin has no standing as the president's representative in the negotiation, and harry reid is telling a far different stories. john boehner and his caucus, the target, again, of senator reid's blame game. the senate majority leader insistent that republicans are the only onee in the way of the deal. reid asked point blank what the first thing would be, and he offered this curious answer. >> well, remember, we've already done more than a billion dollars worth of cuts. we've already done that. we need to get some credit for that and the negotiations that take place. lou: meanwhile, according to the white house, everything is not on the table, the table that a president is not scheduled to be seated at. carney confirmed that president obama will not find any extension of the bush tax cuts for the top 2% of the earners in the nati
to revisit this. taxing legislation has to come through the house of representatives. so there's john boehner's mandate. >> now, donna, there's another quote from that article in the cincinnati inquirer i want to show and ask you about. he said in it there are essentially three major routes to repeal the president's law, the court of congressional process, with those routes coming up short, the third and final one becomes more important than ever. do you think that's the message of the last election to try to essentially repeal obama care by investigation? >> no. that's not the message. i understand that speaker boehner is still trying to pander to those who lost the election, but the truth is is that two-thirds of this law is already being implemented across the country. some of the most important provisions are about to be implemented in 2013. and of course 2014 when the state exchanges come into play. i think it's important to focus on implementing this law to ensure that we get the kind of quality care, you know, that all americans deserve. and the fact we're trying to insure millions of
and your doctor. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. ." heather: fox news alert for you, ramped up diplomatic efforts to bring a cease-fire to the middle east. as violence between israel and hamas escalates massive new explosions seen in gaza city this morning after terrorists bombed a bus in tel-aviv. welcome to a brand-new hour of "america's newsroom." i'm heather childress in for martha maccallum. gregg: i'm gregg jarrett in for bill hemmer. hillary clinton met with mohammed morsi, and another meeting with mahmoud abbas, and then with benjamin netanyahu
for states because, of course, you have to pay taxes on any of your winnings. so with the lot he commission increasing the price was generate revenue. they did and wow they will with this jackpot of $500 million. >> alison, did you buy a ticket? >> reporter: oh, no, i have no problem admitting it. i will go ahead and buy a few tickets of my own. >> good luck to you. thank you. we'll talk to you soon. >>> the other big story this morning, if at once you don't succeed, try, try again. susan rice, the u.n. ambassador returns for a second round of meeting with republican senators. rice failed to win over her sharpest gop critics yesterday still troubled about her comments following the u.s. attack in the u.s. consulate in benghazi that spring from a protest. she told "ac 360" that rice misled the american public. >> she would say that. she would have to say that because she began our meeting today admitting the representations of the video and the protests were wrong. and the impression left the american people misleading. >> senators graham and mccain are now more concerned than before they me
the no taxes pledge created by the president of americans for tax reform, grover norqui norquist, the two most terrifying words a republican can hear, other than buenos diaz. but now some republicans are abandoning the anti-tax pledge as fast as they abandoned -- what's his name? don't help me. don't help me. rip flambe -- no, that's my personal trainer. >> all right. good morning. it's wednesday, november 28th. look at this live look at rockefeller plaza. it is just lit up. gorgeous. >> you know what happens tonight? >> oh, yes, the big tree lighting. >> big commerce -- >> exciting for all the children. >> all right. welcome to "morning joe." >> mike, do you think that's going to whip people into a buying frenzy -- >> it's comcastic. >> a five-year running joke. >> i guess he wasn't paying attention. >> yes. >> national affairs editor for "new york" magazine. john heilemann and andrea mitchell. >> a lot of people say, i'm in trouble. and they've got these little arm bands now, wwjd. what would joe do? so what do i say? you've seen those, wwjd. >> everywhere. >> i say make a mistake, just step
for places like the united states. >>> 34 days left before automatic tax hikes and spending cuts are triggered by the fiscal cliff. democrats and republicans appear stuck on entitlement reforms. democrats don't want deep cuts to programs like medicaid, medicare, social security. some republicans say it's the only way to get a deal. >> the reason we're having these negotiations is because washington democrats have spent money without any care for the cost or the future. and refuse to do anything to protect long-term spending programs like medicare, a failure that's among the biggest single drivers of our debt. >> one out of three people in this country are going to rely on medicare and head cade for their health insurance. so we need to find ways to preserve these programs. >> senator durbin says the debate over entitlement programs should be fought after the new year. he's going to join us in a few minutes to talk about it. >>> police on new york's long island investigating a deadly bus crash, a 6-year-old boy was killed last night when the driver of that bus lost control and wen
online or at a bank of america near you. >> brian: eliminating certain tax deductions stop merrence from can falling off the fiscal cliff. president obama seems reluctant. >> it is difficult to see how you make up trillion just by closing loop holes and deductions. the math tends not to work. >> when it comes to taxes, republicans and democrats agree that the current federal tax code is broken and both sides recognize the importance of closing aggregious tax loop hole that is pick winners and losers. tax reform that eliminates tax wasteful preferences to generate revenue will bring efficienciy to the tax system. >> brian: who has the right approach. james freeman. james, i like deadlines and. >> it makes the mind. >> brian: find a cure. president wants to raise upward 35 to 39 percent and republicans say cap the deductions is better? >> clearly if you could simplify the tax code and get rid of deductions without raising rates on investment in particular that is the least economically detructive way to get more money. >> brian: if you cap at $50,000. and you make two million and you choos
are entitled to tax breaks. arms manufacturers entitled to bigger contracts. the poor and the middle class, they're entitled to underemployment, foreclosures, cuts in both social security and medicare. poor and middle-class americans know all about the fiscal cliff. they've been getting pushed off it for years. with an unfair tax system, unconscionable trade deals and the fed's monetary policies. nearly 50 million people are in poverty in america. 12 million unemployed. millions more underemployed. on january 2, millions stand to lose unemployment benefits. 14 million americans' mortgages are greater than the value of their homes. on the rise massive cuts to essential services. will the american austerity replace the american dream? we need to turn back from the fiscal cliff with wealth creation, education, job creation, infrastructure rebuilding, monetary reform, trade reform, protection of social security and medicare. we need a great economic revival, not another great depression. the speaker pro tempore: for what purpose does the gentleman from texas seek recognize next? mr. poe: i ask
outcome is not to raise taxes on anybody. i do think that if the president has his way and those taxes go up on investors and businesses, it's hard to see where the jobs are going to come from next year. as you know, we still have over 20 million people without a full-time job. so i think getting around this crisis in a way where everybody agrees not to raise taxes on anybody, we go into 2013, maybe that could be the year. and, boy, what a great christmas present this would be, if we actually throw out the tax system and start over. i mean, this is my, this is my new year's wish, that we could junk this tax system, get something that's pro-growth, that creates jobs for every american who wants a job. rick: so on a scale of 1-10, how optimistic are you that we're going to yet a deal like that in. >> oh, i think we will get a deal. it could take a while. you and i could be talking on christmas eve, but i think they will get a deal, and i've got my fingers crossed that taxes don't go up on anyone. rick: steve moore, enjoy the holiday with your wife and three sons. nice to talk to you. heathe
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